Business Context and Reporting Period
This Form 8-K is a current report filed by USA Compression Partners, LP on December 3, 2018. The filing serves to provide additional unaudited pro forma condensed consolidated statements of operations for the Partnership and CDM Resource Management LLC (CDM) for the year ended December 31, 2017, and the nine months ended September 30, 2018.
The report relates to the "Transactions" completed on April 2, 2018, which included the acquisition of CDM from Energy Transfer Operating, L.P., the purchase of the Partnership's general partner interests by Energy Transfer LP and ETP, and an equity restructuring that converted the general partner interest into a non-economic interest.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the inclusion of unaudited pro forma condensed consolidated statements of operations as Exhibit 99.1, but the actual financial figures are not contained within the provided text.
Material Changes
The primary material change reported is the completion of the CDM Acquisition and associated equity restructuring on April 2, 2018. This filing updates previous reports (filed in April and November 2018) by extending the pro forma financial data to cover the nine months ended September 30, 2018, in addition to the full year 2017 data.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, specific risk factors, or contingencies beyond the description of the completed transactions. The document is strictly informational regarding the availability of updated pro forma financial statements.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific unaudited pro forma condensed consolidated statements of operations for the nine months ended September 30, 2018.
- Verify the impact of the CDM Acquisition on the Partnership's historical financial performance as detailed in the pro forma data.
- Confirm the details of the equity restructuring and the conversion of the general partner interest into a non-economic interest.
- Check prior 8-K filings from April 6, 2018, and November 2, 2018, for historical context on the Transactions.